Taiwan's tax revenue for the first eight months hit NT$1.2334 trillion, an increase of NT$49.8 billion or 4.2 percent from the same period last year and the highest ever for the January-August period, the Ministry of Finance said yesterday.

For August, tax collection stood at NT$99.6 billion, a decline of NT$16.7 billion or 14.4 percent year-on-year due mostly to a reduction in income tax and stock transaction tax, officials said.